A bachelor of commerce degree (B.Com) is a popular choice for many students, but some still question whether it’s worth the time and effort. After all, isn’t a college diploma or certificate enough? The answer is a resounding no! Studies* show that graduates with an undergraduate degree or higher had a higher growth in median employment earnings between 2 and 10 years after graduation than college certificate and diploma holders. In other words, pursuing a business education pays off in the long run. But why? What are the top reasons people pursue a B.Com degree? Here are the six most popular reasons:
1) To Increase Earning Potential
As mentioned above, one of the main reasons to pursue a B.Com degree is to increase your earning potential. With a business degree, you’ll be better equipped to pursue higher-paying managerial, administrative, and other positions that require advanced knowledge. You’ll also be in a better position to negotiate for salary increases or promotions. Unsurprisingly, almost half (45.5%) of those who attained an undergraduate degree enrolled in further schooling full-time within a decade from graduation, with the vast majority (90.4%) taking courses during their first five years post-graduation, according to Statcan.
In today’s competitive job market, having a business degree gives you an advantage over those without one. Not only are you more likely to land a job, but you’re also more likely to get promoted or receive salary increases. Think of it from an employer’s point of view: they want someone who can hit the ground running, and having a business degree puts you one step ahead. It can save them a lot of time and money that would otherwise be spent on training someone with no business education.
2) To Prepare for an MBA or Other Graduate-Level Program
Another reason to pursue a B.Com degree is to prepare yourself for further study in a master of business administration (MBA) program or other graduate-level programs. By completing a bachelor’s degree in commerce, you’ll already have a solid foundation of the principles and concepts of business, setting you up for success in a more advanced degree program. It also demonstrates to potential employers that you are committed to furthering your education and knowledge, which can give you an edge over your competition.
3) To Gain Marketable Skills & Knowledge
A B.Com degree provides students with a comprehensive set of business skills and knowledge that are highly sought after in the job market. This includes understanding of topics such as finance, accounting, economics, marketing, management, and human resources. These skills can be applied to any industry or sector and will help you stand out from other applicants.
Furthermore, when you complete your degree, you’ll have a better understanding of the legal and ethical frameworks that govern businesses, as well as the essential principles related to decision-making. This knowledge will help prepare you for any challenges or obstacles that may arise in the workplace. As prominent employers such as Amazon, Apple, and Goldman Sachs turn to graduates with a business education for leadership roles, having this degree puts you in the running for these coveted positions.
4) To Be Your Own Boss
Financial freedom and flexibility are two of the main reasons why many people decide to pursue a B.Com degree. In today’s gig economy, more and more people are turning to entrepreneurship as a way to make a living. With a business degree, you’ll gain the skills and knowledge needed to start your own business or become a consultant. A B.Com degree can also provide you with the opportunity to seek out investment opportunities and funding for your venture. Whether you want to launch an online store, become a business consultant, or open your own brick-and-mortar shop, having a B.Com degree will give you the skills and resources needed to make it happen.
5) To Pursue a Career in Finance
Finally, many people decide to pursue a B.Com degree to jumpstart their career in finance. A business degree provides students with the skills and knowledge necessary to understand financial markets and investments. For example, you’ll learn the fundamentals of accounting, financial statement analysis, and investments. With a business degree, you can pursue a career in banking or investment management, or even launch your own venture capital firm.
In addition, having a business degree will give you more opportunities to network with other financial professionals and build relationships that can open up new doors. With the right skills, knowledge, and connections gained through a B.Com degree, you’ll be well-equipped to pursue a career in finance. The possibilities are endless!
6) To Have A Positive Impact On Society
Finally, it’s important to remember that a B.Com degree can also be used to make a positive impact on society. This could include working with non-profits, or startups focused on social change or starting your own business geared towards helping the community. With a business degree, you’ll have the skills and knowledge needed to create sustainable solutions for the betterment of society. You’ll also be able to use your business savvy and skills to join a cause or movement you are passionate about and make a difference in the world.
Where To Go From Here?
If you’ve decided that a B.Com degree is the right step for your future, the next steps are to choose a program and start applying. Research different schools and programs to find one that fits your needs and interests. As you explore your options, make sure to consider factors like tuition, location, faculty reputation, and curriculum.
Canada’s International Business University (IBU), for example, has the most recent B.Com program, designed to allow students already in the workforce to upgrade their credentials without quitting their jobs or making significant lifestyle changes. Based in Ontario, Canada, this university is an excellent choice for those looking to pursue a B. Com degree without sacrificing their current lifestyle. With flexible learning options
and highly qualified faculty, it’s the perfect place to start your journey toward a successful business career.
Regardless of which university you choose, make sure to take advantage of all the resources available to help you excel in your studies. Make use of tutoring services and study groups, attend industry events and conferences, read books related to business topics, and network with other students and professionals. With dedication and hard work, you’ll be well on your way to achieving your career goals. As Winston Churchill famously said, “Success is not final, failure is not fatal: it is the courage to continue that counts.” Good luck!
*Statistics Canada
https://www150.statcan.gc.ca/n1/pub/11-627-m/11-627-m2023002-eng.htm
